Top 9 Venture Capital Firms Investing in Hardware Startups
We've identified top VCs for hardware startups. After you secure funding, Rho's platform helps you manage and deploy your new capital efficiently.
Rho Editorial Team
For founders of hardware, deep tech, or robotics startups, preparing to raise capital means finding investors who understand your specific challenges. Unlike pure software, your business involves physical products, longer development cycles, and significant R&D costs. Identifying the right venture capital firms from the start is key to a successful fundraise.
To help you focus your efforts, our team at Rho has curated this overview of top VC firms investing in hardware. Use this guide to quickly understand the investors most relevant to your company, whether you're seeking seed stage or later stage funding.
Rho provides access to business banking, corporate cards, and bill pay — built for startup teams moving fast.
Key Takeaways
For hardware companies, securing venture funding provides the capital needed for long development cycles and physical production, and brings on a partner who understands your specific operational challenges.
Venture firms active in the hardware sector range from corporate funds like Amazon Alexa Fund, Cisco, and Lockheed Martin Ventures to specialists such as Brick & Mortar Ventures, all backing innovative companies.
Once you've secured funding, Rho helps you manage and deploy your new capital with integrated business banking, corporate cards, and automated bill pay.
Which VC Firms in Hardware Are Right for Your Stage?
From your earliest funding rounds to preparing for an exit, knowing the right investors to approach is critical. This overview outlines VC firms that invest in hardware companies, broken down by their preferred stage.
Pre-seed and Seed VC Firms in Hardware
Pre-seed and seed funding is the initial capital you'll raise to validate your concept, build a prototype, and find your first customers. For founders at this stage, robotics and AI hardware venture capital firms like mHUB and Comet Labs, or a technology-focused firm like at.inc/, provide critical early backing.
Early Stage VC Firms in Hardware
Early-stage rounds, like Series A and B, are for startups with proven traction that need capital to scale production, expand their team, and grow market share. Some of the top VC firms investing in hardware at this stage include deep tech specialists like Lockheed Martin Ventures and construction-focused Brick & Mortar Ventures.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Late Stage VC Firms in Hardware
Late-stage funding supports established companies as they scale operations for significant growth, prepare for an IPO, or position themselves for acquisition. Examples of major venture capital firms that participate in these later rounds include Cisco and iD Ventures America.
It's also worth noting that some large corporate and global venture capital firms, such as the Amazon Alexa Fund, invest across all funding stages.
To help you identify the right partners, we've outlined key details for top VC firms that invest in hardware companies, including their investment stages, geographic focus, and what makes each a strong potential partner.
1. Amazon Alexa Fund
The Amazon Alexa Fund is a corporate venture arm with up to $200 million dedicated to advancing voice technology. It backs companies building new applications for voice, AI, and ambient computing.
As a strategic investor, the fund supports companies at all stages, from seed to late-stage rounds. Its portfolio includes well-known consumer brands like Ring and Ecobee, showing a clear interest in hardware that integrates with the smart home.
This fund is a strong match for founders developing hardware or software that can leverage voice technology or expand the Alexa ecosystem. If your product has potential for wide consumer adoption or deep tech innovation in AI, this could be the right partner.
Investment stages: Seed to late stage, including convertible notes and debt
Industries of focus: Voice technology, AI, consumer electronics, hardware, and IoT
Geographical presence: Seattle, Washington
Founded: 2015
Notable portfolio companies: Ring, Ecobee, Greenlight
Investor type: Corporate Venture Capital
You can refer to their website here.
2. Cisco
As a global leader in networking and telecommunications, Cisco's corporate venture arm invests in companies that are shaping the future of enterprise technology. It acts as a strategic partner, backing startups that align with its focus on communications, software, and hardware infrastructure.
The firm has made a significant commitment to artificial intelligence, recently launching a $1 billion fund to invest in the space. Its portfolio includes leading AI companies like Cohere, Mistral AI, and Scale AI, signaling a clear priority on foundational AI platforms.
Cisco is an ideal match for founders of later-stage companies developing enterprise-grade AI, software, or communications technology. If you are seeking a strategic investor with deep industry expertise and market access, Cisco could be a strong fit.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Late stage
Industries of focus: Communications Infrastructure, Enterprise Software, Hardware, Software
Geographical presence: San Jose, California
Founded: 1984
Notable portfolio companies: Cohere, Mistral AI, Scale AI, Anthropic
Investor type: Corporate Venture Capital
You can refer to their website here.
3. Lockheed Martin Ventures
As the venture arm of aerospace and defense corporation Lockheed Martin, this fund makes strategic investments in companies developing technologies relevant to its core business. It primarily backs early-stage startups with the potential to shape the future of national security and enterprise operations.
The firm shows a clear preference for deep tech with tangible applications, investing in everything from silicon photonics to secure hardware authentication. Notable portfolio companies include Ayar Labs, a chip company for high-performance computing, and DUST Identity, which uses diamond dust signatures to secure supply chains.
Lockheed Martin Ventures is a strong match for founders building early-stage companies in aerospace, advanced manufacturing, or security. If you are seeking a strategic partner with deep technical expertise and a clear path to market in the defense industry, this firm is an ideal fit.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Early Stage Venture
Industries of focus: Aerospace, National Security, Hardware, Space Travel
Geographical presence: Bethesda, Maryland
Founded: 2007
Notable portfolio companies: Terran Orbital, Ayar Labs, DUST Identity, Mythic
Investor type: Corporate Venture Capital
You can refer to their website here.
4. Brick & Mortar Ventures
Brick & Mortar Ventures is a venture capital firm that backs early-stage companies creating software and hardware for the built world. They focus on solutions for the architecture, engineering, and construction industries.
The firm has a clear focus on technology for construction, engineering, and facility management. Their portfolio includes major exits like PlanGrid, a construction productivity platform acquired by Autodesk for $875 million.
This firm is an excellent match for founders developing technology for the built environment, from job-site coordination tools to facility management software. If you're at the seed or early venture stage, they are a key investor to know.
Investment stages: Early Stage Venture, Seed
Industries of focus: Construction, Architecture, Civil Engineering, Facility Management, Hardware, Software
Geographical presence: San Francisco, California
Founded: 2015
Notable portfolio companies: PlanGrid, BuildingConnected, Fieldwire, HoloBuilder
Investor type: Venture Capital
You can refer to their website here.
5. at.inc/
at.inc/ is a venture capital firm that specializes in backing founders from the earliest stages of their company's journey. They focus on providing seed and early-stage capital to help new businesses get off the ground.
The firm has a strong record of backing companies that achieve significant exits, including acquisitions by Microsoft, Autodesk, and Databricks. Their portfolio highlights a focus on foundational technology, with successful investments like Opendoor and The Wild.
This firm is a great match for founders at the seed or early stages who are building companies in deep tech, software, or hardware. If your long-term strategy involves a potential acquisition by a major technology company, their experience could be particularly valuable.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Early Stage Venture, Seed
Industries of focus: Biotechnology, Cloud Infrastructure, Financial Services, FinTech, Hardware, Internet, Quantum Computing, Semiconductor, Software
Geographical presence: San Francisco, California
Founded: 2015
Notable portfolio companies: Opendoor, Peer5 (acquired by Microsoft), The Wild (acquired by Autodesk), Cortex (acquired by Databricks)
Investor type: Venture Capital
You can refer to their website here.
6. mHUB
mHUB is a Chicago-based innovation center focused on hardtech and manufacturing. It operates as a combined accelerator, incubator, and venture fund to support entrepreneurs building physical products.
The firm provides deep, hands-on support, which is evident in its portfolio of award-winning companies like NovaXS and Hyivy Health. Their model is built for early-stage companies in sectors including IoT, med-tech, and consumer electronics.
This makes mHUB an excellent partner for founders at the seed or early stages who need more than just capital. If you require access to manufacturing resources and a strong support community, this firm is a key player to consider.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Early Stage Venture, Seed
Industries of focus: Hardtech, Manufacturing, IoT, Consumer Electronics, Product Design
Geographical presence: Chicago, Illinois
Founded: 2017
Notable portfolio companies: NovaXS, Hyivy Health, Aerospec, Sotaog
Investor type: Accelerator, Incubator, Micro VC, Venture Capital
You can refer to their website here.
7. Comet Labs
Comet Labs is a San Francisco-based venture fund and incubator that invests in and supports startups building intelligent machines. The firm concentrates on early-stage companies in the artificial intelligence and robotics sectors.
The firm’s dual role as an incubator suggests a hands-on approach to company building, going beyond just capital. Its portfolio includes major successes like self-driving technology firm Pony.ai and computer-vision unicorn Megvii, highlighting a focus on high-growth AI applications.
Comet Labs is a strong match for founders at the seed or early stages who are developing technology in AI, machine learning, or robotics. If your company could benefit from deep technical support and industry expertise, this firm is a key partner to consider.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Early Stage Venture, Seed
Industries of focus: Artificial Intelligence (AI), Robotics, Machine Learning, Hardware
Geographical presence: San Francisco, California
Founded: 2015
Notable portfolio companies: Pony.ai, Megvii, Simbe, Kinara
Investor type: Micro VC, Venture Capital, Incubator
You can refer to their website here.
8. StartX (Stanford-StartX Fund)
StartX is an educational non-profit and accelerator community that supports entrepreneurs from Stanford University. It provides resources and funding to help founders build their companies from the ground up.
The firm's model is unique, offering non-equity assistance alongside traditional venture funding across a wide range of stages, from grants and seed rounds to convertible notes. Its portfolio includes massive consumer successes like Lime, OpenSea, and Patreon, showing its ability to nurture companies that become household names.
StartX is a perfect fit for founders with a Stanford affiliation, whether you're a student, faculty, or alum. If you're at the earliest stages and need a strong support system and access to a powerful network, this accelerator provides a clear advantage.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Seed, Early Stage Venture, Convertible Note, Grant, and Non-Equity Assistance
Industries of focus: Hardware, Automotive, Big Data, Biotechnology, Enterprise Software, IoT, Medical Device
Geographical presence: Palo Alto, California
Founded: 2011
Notable portfolio companies: Lime, OpenSea, Patreon, Life360, Protocol Labs
Investor type: Accelerator, Venture Capital
You can refer to their website here.
9. iD Ventures America
iD Ventures America, formerly Acer Technology Ventures America, is the venture capital arm of iD SoftCapital Group. The firm invests across multiple stages, from early rounds to private equity, backing companies in enterprise software and hardware.
The firm has a history of backing companies that achieve major public exits, including cybersecurity leader Fortinet and consumer robotics brand iRobot. This track record points to a focus on businesses with strong market potential and foundational technology.
This firm is a strong fit for founders of hardware or enterprise software companies aiming for significant scale and a public offering. If you have a clear path to market leadership, their experience with late-stage growth is a key asset.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Investment stages: Early Stage Venture, Late Stage Venture, Private Equity
Industries of focus: Enterprise Software, Hardware
Geographical presence: Santa Clara, California
Founded: 1998
Notable portfolio companies: iRobot, Fortinet, Ginkgo Bioworks, Toplogis
Investor type: Venture Capital
You can refer to their website here.
What This Tells Us About The VC Scene for Hardware Companies
This overview of venture firms shows that the funding options for hardware companies are well-balanced. There is a strong contingent of early-stage and seed investors, such as mHUB and Comet Labs, ready to back you from the very beginning. At the same time, dedicated late-stage players like Cisco and flexible investors like the Amazon Alexa Fund provide capital for growth and scaling.
While California remains a major hub for venture capital, the presence of firms in cities like Chicago and Seattle shows that opportunities are not confined to one region. The variety of investor types—from corporate funds to traditional VCs and accelerators—also means you can find a partner whose support model aligns with your company’s specific needs, whether you require strategic guidance or hands-on resources.
Raise Confidently with Rho
Raising capital requires intense focus, and knowing which investors to approach saves you valuable time and energy. We created this guide to give you a clear starting point for finding the right partners for your hardware company.
After your round closes, the work of managing that capital begins. If you’ve just raised, Rho can help you set up your financial stack in minutes.
Our platform offers integrated business banking, corporate cards, and automated bill pay. These tools are built to help you manage and deploy your new funding with efficiency and control.
FAQs about Venture Capital Firms Focused on Hardware
What are the main hubs for hardware venture capital firms?
While Silicon Valley is a major center, hardware VC firms are also concentrated in other tech hubs. Cities like Boston, Chicago, and Seattle have strong ecosystems with investors focused on deep tech, manufacturing, and robotics.
Which are some top hardware VC firms in Boston?
Boston is a key hub for deep tech and robotics. Firms like The Engine and Material Impact focus on early-stage companies, providing capital and support for startups building businesses based on scientific and technological breakthroughs.
How do corporate venture capital firms differ from traditional VCs?
Corporate VCs, like the Amazon Alexa Fund or Lockheed Martin Ventures, invest for strategic alignment with their parent company. They often provide industry access and potential partnerships in addition to capital, which can be a significant advantage.
What do seed stage venture capital firms look for in hardware startups?
At the seed stage, investors focus on the strength of your founding team, the size of the market opportunity, and a convincing prototype or proof-of-concept. They want to see a clear vision for your product and business.
Once funding is secured, Rho’s integrated financial tools — including business banking, corporate cards, and automated bill pay — help startups manage and deploy capital efficiently.
Are there venture capital firms that only invest in hardware?
Yes, some firms specialize exclusively in hardware or "hard tech." Investors like mHUB and Brick & Mortar Ventures have a specific focus on physical products, offering deep expertise in manufacturing, supply chains, and go-to-market strategies for hardware companies.
How can Rho help after I secure funding?
Once your round closes, Rho helps you manage and deploy your new capital. Our platform offers integrated business banking, corporate cards, and automated bill pay, giving you efficiency and control over your finances from day one.